Malaysia is far from being a cashless country, so knowing how to manage your money as a tourist helps you avoid foreign transaction fees and poor exchange rates. Of the multi-currency cards out there, Wise is the strongest option for Malaysia specifically, because it lets you hold ringgit directly in your wallet (Revolut currently does not). Here’s everything you need to know about using a Wise card in Malaysia, plus your other options.
This post may contain affiliate links. Bookings or purchases through these links generate a small commission for me at no extra cost to you. Thanks for your support!
Why Wise is the best multicurrency card for travelling in Malaysia
Wise is hands down the best multi-currency card for spending in Malaysia.
It lets you hold MYR (Malaysian ringgit) in your digital wallet. So it’s easy to manage your own money and get a good conversion rate rather than being at the mercy of your bank. Here are some of the best benefits of Wise in Malaysia:
- Use it for ATM withdrawals
- Scan QR codes for easy transfers
- Link it to Grab (a rideshare/food delivery app like Uber)
- Tap for day-to-day purchases
There are no fees to use ATMs in Malaysia. (We mostly used CIMB, but none of the ATMs we came across ever had fees.) However, if you use a traditional bank card, your bank will likely charge you. Sometimes a flat fee + a percentage, like Westpac Australia. Wise charges a fee, but only after you exceed a monthly fee-free limit.
I have both Wise and Revolut. And while I love Revolut for many things, it’s gone unused the whole time I’ve been in Malaysia.
How to top up your Wise balance
If you’ve never used Wise before, it won’t take you long to figure out. Another thing I prefer about this app over Revolut is that it’s more intuitive.
It’s easy to top-up your Wise card through the app. We add money in our home bank’s currency (NZD) with no conversion fees, and then convert to MYR as we go.
You actually have lots of top up options, but the two I use most are Apple Pay and local bank transfer. Bank transfer is free, but sometimes I’m in a hurry and can’t wait 3 hours so I pay the 0.5% price to top up my Wise balance with Apple Pay. (The cost of being a disorganized human being.)
But then you also have the option to pay with your debit card or credit card (if you don’t have Apple Pay), or POLi, which I’ve never used. Point is, it’s very easy once you’ve linked your accounts.
How to convert your balance to Malaysian ringgit
Once you’ve topped up your account in your home currency, you can transfer it over to ringgit. Then you’re ready to spend like a local!
The conversion page is pretty easy to figure out as well. If you’re transfering a lot of money at once and have time, you can even set an auto-conversion for the money to go through when it hits your target rate. That’s probably getting a little advanced and isn’t necessary if you find this part overwhelming. You can just go with the current market rate and assume Wise is giving you a good one. That’s their whole thing.
Wise referral program
I’m not sponsored by Wise in any way, but they do have a friend referral program. If you sign up with my link, I’ll get a little bonus and you’ll get a free physical card (necessary for ATM withdrawals) and zero fees on your first transfer.
Then you can pass your own referral code on to your mates!
I’ve been using Wise for years now and it’s one of the best travel tools out there. It’s legit saved me hundreds of dollars of foreign exchange fees charged by my bank. And it’s helpful all over the world — not just Malaysia.
QR codes or eWallets are huge in Malaysia
Debit and credit card machines are pretty widespread, but not ubiquitous. Card payments are definitely an option if you’re at the mall or an air-conditioned, sit-down restaurant. And of course cash is always accepted. But even at a market stall, where you’d typically expect to need cash, you can now pay via QR code — you just need an eWallet.
According to a 2025 Mastercard survey, 99% of Malaysian consumers planned to use QR codes, digital wallets, and biometric payments in 2026. (I love the idea of that remaining 1%, just a few guys, being like “no, cash for life.”) But point is, it’s quickly becoming the #1 way to pay.
There are about 20 eWallet app options. But as a visitor, you don’t qualify to use all of them — some require a Malaysian passport or phone number. But guess what? You can use Wise to pay via QR codes!
Before we realized Wise could do QR codes we used DuitNow. Yes, the brand name sounds demanding, but it works. GrabPay is another easy option since you’ll already have Grab on your phone for ridesharing. When we learned Wise could do this, our minds were blown.
Using Wise to scan QR codes
There’s a little Scan option right on the Wise homepage. All you have to do is open that up, scan the business’ QR code, type the amount, and hit send.
Flip your phone screen around to show the cashier, and badda bing badda boom, it’s done.
There is a very small fee, under 1%, when you scan. But that’s well worth it. Note if you’re transfering from a different currency to MYR, there will be a conversion fee. So make sure you’re holding MYR before you pay to avoid wasting money.
Alternatives cards to Wise
Wise isn’t your only option, of course. Revolut is another popular multi-currency card, and you can always rely on your normal bank cards. But there are some downsides to both.
Revolut in Malaysia
Revolut will still give you a decent exchange rate, but you’ll be holding your home currency (or SGD or any of its other available options). It then auto-converts to MYR when you use an ATM or buy something.
Because you can’t see exactly how many ringgit are in your account, you’ll need to do a bit of a conversion estimate and prepare for some fees.
Revolut advertises spending in 150+ countries, and while that’s true, it’s not the same as holding one of the 36 currencies they offer. The Malaysian riniggit is not currently on the list.
Bank cards in Malaysia
You can use your home bank card to spend and withdraw cash in Malaysia. However, traditional banks always charge the highest fees. My Westpac NZ bank charges 1.95% on any foreign transaction. Sounds small but it adds up! And your home bank will likely charge you to pull cash, too.
Wise doesn’t charge anything for regular spending, and has a monthly fee-free ATM withdrawal limit. The exact amount depends on your home currency. But for example, it’s 400 NZD per month for me, and 250 GBP for Brits.
There’s a full list of the withdrawal structures for different countries here. After you hit that limit, a percentage will apply to every withdrawal you make — usually pretty small between 1.75% and 2.69%.
Chesney and I travel as a pair and we both have our own Wise accounts, so that’s essentially 1,800 MYR we can pull per month with no fees.
Fortunately, there are no fees at the actual ATMs in Malaysia, so you only have to worry about what your bank card is charging you — not the machine. I wish I could say the same for Thailand and its crazy ATM fees.
Other ways to get cash in Malaysia
Using your bank card or Wise aren’t the only ways to get your hands on some ringgit. You can also consider bringing cash for the exchange bureau or getting a pre-loaded travel money card before you go.
Bringing cash to exchange
Especially if you’re coming with strong currencies like GBP, USD, or SGD, you can probably get a good exchange rate. The obvious downside is that you have to travel with a lot of cash to make this work. If you’re only in Malaysia for a short time, it’s a much more efficient option than signing up for Wise and getting your head around the app.
Travel money cards
Travel money cards from established banks let you avoid fees when spending in certain currencies. But it’s very unlikely that MYR is on the list. Additionally, not every merchant will accept a prepaid travel card, so they’re best used for cash only. And they sometimes have a loading fee — kinda defeating the purpose in my opinion.
In this context, I don’t think a travel money card is a great option for a trip to Malaysia.
Paying for stuff in Borneo
Borneo widely accepts card payments, but we found we needed cash or QR codes more often than in western Malaysia.
For example, the bus from Kuching to Bako National Park takes card, but the drivers made us pay cash both there and back. Couldn’t even use QR. (Reasons unknown, but this is why it’s always a good idea to have cash on you.)
That said, ATMs are all over and we never struggled to pay or access cash with our Wise card throughout our trip.
We also used Wise around Indonesia, so if you’re exploring all three countries that share the island of Borneo — Malaysia, Indonesia, and Brunei — you can use the same card to hold ringgit and rupiah. Wise doesn’t have an option to hold Brunei dollars (BND), but it does have Singapore dollars, which are used on par in Brunei. Revolut doesn’t do BND either.
Is it worth having both Wise and Revolut?
I have both, mostly because I just like to test stuff and am indecisive. You don’t actually need both cards. However, if you’re always country hopping, there are pros and cons to each card and it’s common for one to be a better option over another depending on where you are.
Revolut has tiered subscription plans, starting with a free version to a “Platinum” card with perks from airport lounge access to free NordVPN and Tinder Premium lol. Revolut also lets you accrue points to redeem on travel stuff (flights, lounges, hotels, etc.), which Wise doesn’t offer.
I’ve gone into more detail about the comparison between Wise and Revolut. But for Malaysia, Wise is the obvious winner because it lets you hold ringgit.
Naomi Lai
Naomi is a Canadian travel editor and writer with 13 years of international travel across Southeast Asia, Europe, South America, New Zealand, and beyond. She covers everything from budget backpacking to luxury travel — always from personal experience.
More about Naomi →